foreign earned income exclusion (1 viewing) (1) Guest
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TOPIC: foreign earned income exclusion
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Mark (User)
Senior Boarder
Posts: 66
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foreign earned income exclusion 8 Months, 3 Weeks ago
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Karma: 3
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how many days can you be in the US and still qualify for the foreign earned income exclusion?
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Micky B (User)
Junior Boarder
Posts: 21
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Re:foreign earned income exclusion 8 Months, 3 Weeks ago
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you need to be outside the US for 330 days. I dont believe there are any exceptions.
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Sumo (User)
Gold Boarder
Posts: 169
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Re:foreign earned income exclusion 8 Months, 3 Weeks ago
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Karma: 5
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Just so there is no misunderstanding, the foreign income exclusion only applies to the first $85,000.00. There rest, I believe, is taxable at its usual rate. Unless somebody tells me different this is how I understand it to work, in addition to being out of the country for the most part of a year.
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Lex (User)
Junior Boarder
Posts: 37
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Re:foreign earned income exclusion 8 Months, 3 Weeks ago
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What if you are a US citizen working and living overseas and you travel back to the states more than 40 days? Is there an exception if you are living overseas. This client doesnt have a house in the US anymore. The concren is the that client is not overseas at least 330 days
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Kash (User)
Junior Boarder
Posts: 29
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Re:foreign earned income exclusion 8 Months, 3 Weeks ago
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Karma: 1
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it doesnt matter if you live abroad, if you blow the 330 day test you dont qualify for the FEIE. FYI: The FEIE is up to $85,700 for yr 07
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Sumo (User)
Gold Boarder
Posts: 169
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Re:foreign earned income exclusion 8 Months, 3 Weeks ago
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Karma: 5
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If its 85,000.00 for '07, does that mean it may go up for the year '08? And if so, by how much does it go up on average per year?
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